-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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Nice to see these backwaters aren’t blowing the windfall on frivolous vote buying. They’re deeply involved in due diligence. Some Green bootlicker will propose putting hitching posts on all major streets; encouraging use of horses and donkeys for transportation. Free parking.
How much Covid money is still waiting to be spent? As it flows into the economy you can count on high inflation numbers to continue. Despite what idiot Janet Yellen says, the government money printing press created this problem. And while we’re at it, why does she look exactly like a chicken?